Haima to produce 100,000 mini-cars annually by 2010

Shanghai. August 20 (Gasgoo.com) – Haima Investment Group Co is planning to produce and sell 100,000 mini cars annually by 2010, according to a Chinese media report last week. 

Earlier this year, Haima acquired the former state-run Zhengzhou Light Automobile for 29.69 million yuan ($3.8 million) and founded Haima (Zhengzhou) Automobile Co. Following the move, Haima has since actively expand the operation of the newly founded subsidiary company.

Haima has been in partnership with the First Automobile Works Corp (FAW) for a couple of years. As a result, its sales network and revenues are dependent on FAW to some extent. By incorporating Zhengzhou Light Auto, Haima hopes to expand its own sales networks in central China.

Haima also hopes to diversify its product portfolio by invading mini car market. Currently Haima's products, including Mazda3, the second-gene Familia, Premacy, all clustered at prices ranging from 80,000 to 110,000 yuan.